Towards a sustainable energy transition

INTERVIEW

Gustavo Castagnino, has a degree in International Relations from the Universidad del Salvador, and has postgraduate studies at the Universidad Austral, Universidad de San Andrés, IAE, ITBA and Digital House.
He was president and vice-president of DirComs. Circle
He was vice-president of the Argentinean Wind Energy Chamber and now he is member of its Board of Directors. Previously, he was Director of Institutional Relations at Mercedes Benz in Argentina and served in various posts in the Ministry of Foreign Affairs and the Ministry of Economy.
The Director of Corporate Affairs, Regulatory Affairs, and Sustainability | ESG at Genneia answered some questions.

Have you managed to exceed 1 GW of installed capacity? How have you met this goal?

At Genneia, we have been able to exceed 1 GW (1,004 MW) of installed capacity, a huge achievement for the company and the country. This is due to the commissioning of the Tocota III Photovoltaic Solar Park, located 65 km north of the town of Calingasta, in the province of San Juan. Its construction has meant an investment of more than 50 million dollars, obtained by the company through the issuance of negotiable obligations qualified as green bonds. From now on, Genneia will operate 19 renewable parks, 7 wind and 3 solar ones.

What are the next projects to be carried out?

The“La Elbita” wind farm in Tandil,(Buenos Aires province), is one of the projects that is moving forward in the construction and assembly of the components. The park will have 36 wind turbines with an installed capacity of 162 MW, which will supply the equivalent of 154,000 homes, avoiding 352,5000 tCO2 into the atmosphere annually. It will be located on a 1,464-hectare site on Provincial Route 30, Km 497.

Have you made any agreement with Bunge for the use of renewable electricity?

Yes, we have reached an agreement with Bunge to supply renewable energy for 10 years to its plants in Campana, Ramallo, San Jerónimo Sud and TFA (Terminal de Fertilizantes Argentinos S.A,) in Puerto General San Martín in Argentina. The agreement provides for the supply of 47 % of the total annual electricity consumption of these plants and about 40% of the total electricity consumed by Bunge in Argentina. The renewable energy will be supplied from a pool of Genneia assets consisting of our wind and solar farms.

What are the green bonds that Genneia has issued?

At Genneia, we are guided by a triple impact model, based on transparency, integrity and continuous improvement, managing environmental and social issues under International Finance Corporation standards. This is why we are certified in emissions reduction to contribute to the internal strategy and that of other companies towards carbon neutrality.
We believe it is essential to highlight the importance of sustainable finance .as one of the key pillars of our business. A growing number of companies are seeking to generate a positive sustainable impact both at an environmental and social level, in which their investments do not have a strictly financial sense. In this respect, the company’s bonds are in high demand from institutional investors, investment funds and corporate investors who trust Genneia in the long term. This is reflected in the level of accession to the exchange and the offers received that exceed the established amount. For this reason , thanks to the support of the investors, committed to the application of funds in projects that contribute to a more sustainable economy, we have become the leading issuer of green bonds.
As the latest development, on 6 March 2024, the company placed two Green Negotiable Obligations (ON) for an amount equivalent to US$ 33 million, exceeding its initial target of US$10 million. In total, the company received bids for more than US$ 52 million. This successful result once again ratifies the solid trust that the market places in the company This restates our position as leaders and benchmarks of a sustainable energy transition in which we ensure the creation of value for all stakeholders and work intensively to preserve the environment.